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Power sector secures lion’s share of €4.3 bln EIB loan

The European Investment Bank approved €4.3 billion of loans for energy-related projects this week, with the majority going to the electricity sectorThe European Investment Bank approved €4.3 billion of loans for energy-related projects this week, with the majority going to the electricity sector.

The electricity sector secured European Investment Bank (EIB) loans worth billions of euros this week, while a much smaller amount will go to gas-related projects.

A total of €325 million worth of loans went to gas-related projects while the rest of the €4.3 billion of finance went to electricity and energy efficiency projects.

Transmission system operator Gas Networks Ireland has received a €200 million loan to help upgrade and extend Ireland’s gas grid, a project that is estimated to cost €454 million. The upgrades include phase...

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